Saudi Automotive Services Co. (SASCO) announces the selling of a plot of land in amount of SAR 44.5 million

Saudi Automotive Services Co. (SASCO) subsidiary, Naft Services Co., has agreed to sell a 2,148.20 square meter plot of land in Jeddah to Bayat Real Estate Co. for SAR 44.5 million.
The transaction terms require an immediate payment of SAR 4.45 million, with the remaining balance due within 30 days of the August 2, 2026, signing date.
The company expects a positive financial impact from the sale to be reflected in its Q3 2026 results, based on the asset's book value of approximately SAR 43.95 million.
Proceeds from the sale will be used to support SASCO’s financial and investment activities and enhance financial solvency as part of a broader strategy to restructure its real estate portfolio.

Element List	Explanation
Introduction	Saudi Automotive Services Co. (SASCO) announces sign of agreement for sale of a plot of land owned by one of its subsidiaries (Naft) located in Al-Nahda district in Jeddah, with square area of 2,148.20 meters, for a total value of 44,500,000 riyals (excluding real estate transaction tax and commission).
Transaction Details	Sale of a (2,148.20 m2) plot of land located in Al-Nahda district, King Abdulaziz Road, Jeddah.
Transaction Amount	SAR 44,500,000 (excluding real estate transaction tax and commission)
Transaction Conditions	The buyer pays the amount of SAR 4,450,000 upon signing the sale agreement, and the remainder within (30) days from the date of signing the agreement.
Parties of the Transaction	Seller: Naft Services Co. (Naft). Buyers: Bayat Real Estate Co.
Transaction Financing Method	Not applicable.
Date of Entering Into The Transaction	2026-08-02 Corresponding to 1448-02-19
Description of Activity of The Asset Subject of The Transaction	Land on which a gas station is located on.
Asset Book Value	The book value according to the company's statements as of 30/06/2026 is an amount of SAR 43,946,775.
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction	Not applicable
Transaction reasons	This deal is in line with the company’s plan to sell a number of real estate assets owned by it and its subsidiaries, and is part of its strategy to provide cash flow and enhance financial solvency.
Expected Impact of the Transaction on the Company and Its Operations	The positive financial impact of this transaction is expected to be reflected in the company’s financial results during the third quarter of 2026.
Details of Using The Proceeds of the Asset Sale	Implementing the company's plan, supporting its financial and investment activities, and achieving its objectives in restructuring its real estate portfolio.
Related Parties	There are no related parties.